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Evidence Guide: CSCORG021 - Determine the effective use of financial resources

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

CSCORG021 - Determine the effective use of financial resources

What evidence can you provide to prove your understanding of each of the following citeria?

Identify financial resource requirements

  1. Consult with key people to develop and endorse proposals for expenditure.
  2. Ensure proposed expenditure takes into account factors likely to affect costs and returns.
  3. Link proposed financed activities to organisational objectives and strategies.
  4. Ensure proposed financed activities include targets, standards and monitoring methods.
Consult with key people to develop and endorse proposals for expenditure.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure proposed expenditure takes into account factors likely to affect costs and returns.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Link proposed financed activities to organisational objectives and strategies.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure proposed financed activities include targets, standards and monitoring methods.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish budgets for activities

  1. Ensure relevant people participate in determining a budget that is clear, concise and presents a cost-benefit analysis.
  2. Present budget proposals in the format required by your organisational management practices.
  3. Conduct negotiations in a way that maintains good working relationships with the people involved.
  4. Resolve and report areas of uncertainty or contention and negotiate and finalise agreements in the time required.
  5. Provide relevant people with information about the budget decisions in a manner and timeframe that contribute to their cooperation and confidence.
Ensure relevant people participate in determining a budget that is clear, concise and presents a cost-benefit analysis.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Present budget proposals in the format required by your organisational management practices.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Conduct negotiations in a way that maintains good working relationships with the people involved.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Resolve and report areas of uncertainty or contention and negotiate and finalise agreements in the time required.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide relevant people with information about the budget decisions in a manner and timeframe that contribute to their cooperation and confidence.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Control expenditure and activities against budget

  1. Ensure team members take individual responsibility for monitoring and controlling expenditure and activities against budgets.
  2. Implement a method of regular monitoring of expenditure and activities against budgets that complies with the organisation’s requirements.
  3. Take corrective action in response to actual or potential significant variation from budgets promptly and effectively and report outcomes.
  4. Refer requests for expenditure outside the area of the budgets promptly to the relevant people.
  5. Complete records of activities against budgets accurately and make available to authorised people.
Ensure team members take individual responsibility for monitoring and controlling expenditure and activities against budgets.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement a method of regular monitoring of expenditure and activities against budgets that complies with the organisation’s requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Take corrective action in response to actual or potential significant variation from budgets promptly and effectively and report outcomes.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Refer requests for expenditure outside the area of the budgets promptly to the relevant people.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete records of activities against budgets accurately and make available to authorised people.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify financial resource requirements

  1. Consult with key people to develop and endorse proposals for expenditure.
  2. Ensure proposed expenditure takes into account factors likely to affect costs and returns.
  3. Link proposed financed activities to organisational objectives and strategies.
  4. Ensure proposed financed activities include targets, standards and monitoring methods.
Consult with key people to develop and endorse proposals for expenditure.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure proposed expenditure takes into account factors likely to affect costs and returns.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Link proposed financed activities to organisational objectives and strategies.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure proposed financed activities include targets, standards and monitoring methods.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish budgets for activities

  1. Ensure relevant people participate in determining a budget that is clear, concise and presents a cost-benefit analysis.
  2. Present budget proposals in the format required by your organisational management practices.
  3. Conduct negotiations in a way that maintains good working relationships with the people involved.
  4. Resolve and report areas of uncertainty or contention and negotiate and finalise agreements in the time required.
  5. Provide relevant people with information about the budget decisions in a manner and timeframe that contribute to their cooperation and confidence.
Ensure relevant people participate in determining a budget that is clear, concise and presents a cost-benefit analysis.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Present budget proposals in the format required by your organisational management practices.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Conduct negotiations in a way that maintains good working relationships with the people involved.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Resolve and report areas of uncertainty or contention and negotiate and finalise agreements in the time required.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Provide relevant people with information about the budget decisions in a manner and timeframe that contribute to their cooperation and confidence.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Control expenditure and activities against budget

  1. Ensure team members take individual responsibility for monitoring and controlling expenditure and activities against budgets.
  2. Implement a method of regular monitoring of expenditure and activities against budgets that complies with the organisation’s requirements.
  3. Take corrective action in response to actual or potential significant variation from budgets promptly and effectively and report outcomes.
  4. Refer requests for expenditure outside the area of the budgets promptly to the relevant people.
  5. Complete records of activities against budgets accurately and make available to authorised people.
Ensure team members take individual responsibility for monitoring and controlling expenditure and activities against budgets.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement a method of regular monitoring of expenditure and activities against budgets that complies with the organisation’s requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Take corrective action in response to actual or potential significant variation from budgets promptly and effectively and report outcomes.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Refer requests for expenditure outside the area of the budgets promptly to the relevant people.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete records of activities against budgets accurately and make available to authorised people.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions section.

1. Identify financial resource requirements

1.1 Consult with key people to develop and endorse proposals for expenditure.

1.2 Ensure proposed expenditure takes into account factors likely to affect costs and returns.

1.3 Link proposed financed activities to organisational objectives and strategies.

1.4 Ensure proposed financed activities include targets, standards and monitoring methods.

2. Establish budgets for activities

2.1 Ensure relevant people participate in determining a budget that is clear, concise and presents a cost-benefit analysis.

2.2 Present budget proposals in the format required by your organisational management practices.

2.3 Conduct negotiations in a way that maintains good working relationships with the people involved.

2.4 Resolve and report areas of uncertainty or contention and negotiate and finalise agreements in the time required.

2.5 Provide relevant people with information about the budget decisions in a manner and timeframe that contribute to their cooperation and confidence.

3. Control expenditure and activities against budget

3.1 Ensure team members take individual responsibility for monitoring and controlling expenditure and activities against budgets.

3.2 Implement a method of regular monitoring of expenditure and activities against budgets that complies with the organisation’s requirements.

3.3 Take corrective action in response to actual or potential significant variation from budgets promptly and effectively and report outcomes.

3.4 Refer requests for expenditure outside the area of the budgets promptly to the relevant people.

3.5 Complete records of activities against budgets accurately and make available to authorised people.

Required Skills and Knowledge

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions section.

1. Identify financial resource requirements

1.1 Consult with key people to develop and endorse proposals for expenditure.

1.2 Ensure proposed expenditure takes into account factors likely to affect costs and returns.

1.3 Link proposed financed activities to organisational objectives and strategies.

1.4 Ensure proposed financed activities include targets, standards and monitoring methods.

2. Establish budgets for activities

2.1 Ensure relevant people participate in determining a budget that is clear, concise and presents a cost-benefit analysis.

2.2 Present budget proposals in the format required by your organisational management practices.

2.3 Conduct negotiations in a way that maintains good working relationships with the people involved.

2.4 Resolve and report areas of uncertainty or contention and negotiate and finalise agreements in the time required.

2.5 Provide relevant people with information about the budget decisions in a manner and timeframe that contribute to their cooperation and confidence.

3. Control expenditure and activities against budget

3.1 Ensure team members take individual responsibility for monitoring and controlling expenditure and activities against budgets.

3.2 Implement a method of regular monitoring of expenditure and activities against budgets that complies with the organisation’s requirements.

3.3 Take corrective action in response to actual or potential significant variation from budgets promptly and effectively and report outcomes.

3.4 Refer requests for expenditure outside the area of the budgets promptly to the relevant people.

3.5 Complete records of activities against budgets accurately and make available to authorised people.

Evidence required to demonstrate competence must satisfy all of the requirements of the elements and performance criteria. If not otherwise specified the candidate must demonstrate evidence of performance of the following on at least two occasions.

accessing and using legislation and guidelines relating to financial planning, management, reporting and accountability

reading complex and formal documents, such as legislation, policies, procedures and accounting standards and providing advice on their interpretation and application

detailing requirements, writing recommendations and preparing financial plans

using financial applications for entering data and preparing reports requiring accuracy of expression

communicating with key people using a range of communication styles to suit different audiences and purposes

using communication strategies involving exchanges of complex financial information

Evidence required to demonstrate competence must satisfy all of the requirements of the elements and performance criteria. If not otherwise specified the depth of knowledge demonstrated must be appropriate to the job context of the candidate.

organisation’s policies and procedures related to financial planning, management, reporting and accountability

corporate governance requirements

relationships of financial management compliance framework to organisational structures

organisation’s general management and accountability structures and systems

methods of analysing and costing resource capacity and use

internal control mechanisms and accountability of processes and resources

accrual accounting principles

professional, ethical and business standards for financial management

financial recording and reporting requirements